BOULDER, Colo.—The Boulder City Council has authorized the purchase of Xcel Energy’s assets as it moves toward creating a municipal electric utility.

The plan approved Tuesday requires the utility to offer more renewable energy than Xcel at similar or lower rates.

According to the Boulder Daily Camera ( http://tinyurl.com/l6tcaag), the vote gives city officials the authority they need to start negotiations with Xcel to purchase the poles and wires that distribute electricity around Boulder, six substations and a high-voltage transmission line that circles the city.

What do you do in a rental market where seemingly every new apartment building is offering a boatload of amenities and high-end finishes? If you're Charleston, S.C.-based apartment developer Greystar you double down and build an extra luxury project.